S/R Emini Journal
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...and the reason behind price always breaking out of the tight range is good old greed and fear, money has to be made and lost every day. They both affect the breakout range and the larger the greedy squeeze the more stops are triggered in fear of extending losses. If a scalper understands how to read these ranges, he does not really need much more, apart from experience in reading T&S for possible extension of the breakout and obviously seeing where to close, pivots might help also.
OK so we are going to keep trading in a fairly tight range It won't surprise me if it gets tighter as we lead into the Fed meeting. I want them to prove to me the bulls want it to go up and that is I will keep my long call as long as I need to. My short call is a little easier to reach. If we don't hit the numbers (and this does happen) I won't trade.
This afternoon Romik and I had a discussion about putting trades on just for the sake of doing it. Don't fall into that trap. If you go several days with no trades and then trade the fed announcement and possibly make 8-10 points on one trade it sure is a lot easier. So just be careful.
Long 1290.50
Short 1279.50
Have a good day tomorrow,
Gary
This afternoon Romik and I had a discussion about putting trades on just for the sake of doing it. Don't fall into that trap. If you go several days with no trades and then trade the fed announcement and possibly make 8-10 points on one trade it sure is a lot easier. So just be careful.
Long 1290.50
Short 1279.50
Have a good day tomorrow,
Gary
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